Hancock Fabrics Seeks Bankruptcy Protection

Fabric and sewing supply retailer Hancock Fabrics filed for Chapter 11 bankruptcy protection Tuesday, seeking to reorganize for the second time in nine years. Senior Vice President Dennis Lyons, in a court document, said Hancock wants to close at least 70 money-losing stores among the 250-plus stores it operates in 37 states, leaving it with "a smaller, more profitable core group of stores."